Indeed th ey do, even in Qld where CXY will start 'mining' its incredibly cheap coal resources by ucg and feed into the Tarong Power Station beginning in April 2008.
The highest oil price considered in this Qld gov. report released on 11 October 2007.
http://www.epa.qld.gov.au/publications/p02190aa.pdf/Queenslands_vulnerability_to_rising_oil_prices__taskforce_report.pdf
The report notes that 75% of the world's oil goes into transport functions, only 25% into electricity production. As the oil price surges electricity demand to substitute for transport (initially electrified rail for freight, then for private transport progressively expanding from intra-urban to longer distance inter-regional and then inter-city taking over from airplanes) will surge.
Note that the report models the effects of an oil price of $110/barrel in 2050. It is currently at ten cents below $90/barrel.
CXY wins on both electricity production and liquification options.
Go the gas!
they still need power
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